BTC $63,101.00 (-4.82%)
ETH $1,821.48 (-4.79%)
XRP $1.33 (-4.35%)
BNB $588.51 (-3.30%)
SOL $76.49 (-4.61%)
TRX $0.28 (-2.74%)
DOGE $0.09 (-5.39%)
BCH $483.18 (-11.24%)
ADA $0.26 (-5.06%)
LEO $7.98 (-0.78%)
HYPE $26.41 (-5.91%)
CC $0.16 (-0.60%)
XMR $317.79 (-2.34%)
LINK $8.14 (-4.14%)
XLM $0.15 (-3.60%)
RAIN $0.01 (-5.71%)
HBAR $0.09 (-3.38%)
LTC $50.85 (-3.80%)
ZEC $231.61 (-6.60%)
AVAX $8.26 (-4.80%)

Bahamas vs Turkey

Crypto regulation comparison

← Back to map | Bahamas | Turkey
Bahamas

Bahamas

Turkey

Turkey

Legal
Legal

The Bahamas enacted the Digital Assets and Registered Exchanges (DARE) Act in 2020, creating a comprehensive regulatory framework. The SCB oversees digital asset businesses. The Bahamas also launched the Sand Dollar CBDC.

Turkey has one of the highest crypto adoption rates globally, driven by lira depreciation and high inflation. While crypto ownership is legal, the CBRT banned crypto payments in April 2021. In 2024, Turkey passed comprehensive crypto legislation under the Capital Markets Law amendment, giving the CMB authority to license and regulate crypto asset service providers. No crypto-specific tax exists yet, though legislation is under consideration. MASAK (Financial Crimes Investigation Board) oversees AML compliance.

Tax Type No tax
Tax Type None
Tax Rate 0%
Tax Rate 0% (legislation pending)
Exchanges Yes Yes
Exchanges Yes Yes
Mining No No
Mining Yes Yes
Regulator Securities Commission of the Bahamas (SCB)
Regulator CMB (Capital Markets Board), CBRT (Central Bank), MASAK
Stablecoin Rules Regulated under DARE Act 2024; algorithmic stablecoins banned
Stablecoin Rules Under development; CBRT banned crypto for payments
Key Points
  • DARE Act (2020) provides comprehensive regulation for digital assets and exchanges
  • Securities Commission of the Bahamas licenses and supervises digital asset businesses
  • No income tax, capital gains tax, or crypto-specific taxes
  • Sand Dollar CBDC launched in 2020 as one of the world's first
  • FTX collapse in 2022 led to enhanced scrutiny and regulatory updates
Key Points
  • 2024 Capital Markets Law amendment gives CMB authority to license crypto platforms
  • CBRT banned the use of crypto assets for payments in April 2021
  • No crypto-specific tax currently; capital gains tax legislation under discussion
  • MASAK enforces AML/KYC requirements on crypto platforms
  • Turkey ranks among top 5 globally for crypto adoption (driven by lira depreciation)
Sources
Sources